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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities:    
Net Income $ 207,655 $ 132,196
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 119,161 108,929
Amortization of debt deferred costs and intangibles, net 1,953 1,974
Impairment loss 43 153
Equity in earnings of real estate joint ventures and partnerships, net (15,111) (13,680)
Gain on sale and acquisition of real estate joint venture and partnership interests (46,407) (879)
Gain on sale of property (68,298) (43,917)
Distributions of income from real estate joint ventures and partnerships 868 2,834
Changes in accrued rent and accounts receivable, net (5,869) (7,746)
Changes in unamortized lease costs and other assets, net (12,852) (11,794)
Changes in accounts payable, accrued expenses and other liabilities, net 12,207 6,946
Other, net 669 10,717
Net cash provided by operating activities 194,019 185,733
Cash Flows from Investing Activities:    
Acquisition of real estate and land (438,286) (187,069)
Development and capital improvements (78,675) (59,791)
Proceeds from sale of property and real estate equity investments 185,651 74,487
Change in restricted deposits and mortgage escrows (14,653) 69,396
Real estate joint ventures and partnerships - Investments (49,877) (30,053)
Real estate joint ventures and partnerships - Distribution of capital 41,749 28,003
Purchase of investments (4,740) 0
Proceeds from investments 1,250 1,000
Other, net 566 (325)
Net cash used in investing activities (357,015) (104,352)
Cash Flows from Financing Activities:    
Proceeds from issuance of debt 249,999 448,083
Principal payments of debt (67,848) (223,930)
Changes in unsecured credit facilities (19,500) (67,500)
Proceeds from issuance of common shares of beneficial interest, net 137,487 42,420
Redemption of preferred shares of beneficial interest 0 (150,000)
Common and preferred dividends paid (138,354) (131,866)
Debt issuance and extinguishment costs paid (5,230) (9,779)
Distributions to noncontrolling interests (6,252) (4,541)
Contributions from noncontrolling interests 0 1,318
Other, net 292 3,492
Net cash provided by (used in) financing activities 150,594 (92,303)
Net decrease in cash and cash equivalents (12,402) (10,922)
Cash and cash equivalents at January 1 22,168 [1] 23,189
Cash and cash equivalents at September 30 9,766 [1] 12,267
Interest paid during the period (net of amount capitalized of $1,762 and $2,517, respectively) 60,379 59,333
Income taxes paid during the period $ 930 $ 1,534
[1] * Consolidated variable interest entities' assets and debt included in the above balances (see Note 15):